I Nearly Choked On My Coffee After This Fox News Host Suggested Workers Making $20/Hr

The other one I can see is a return to the automat restaurant format

automat-future-of-dining-1280-getty-1135992662.jpg


The-Future-of-Restaurants.jpg


And

bK9tprcjRbSBZMxTxlqexzUsN3NFPFgUfeh9R-u_JU8.png


hsgfa11_9.jpg
 
Althea said:
Humans still make every sandwich and stock the machines. The only thing that's not the same is who hands the food to the customer.
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Mass production is more efficient and takes fewer people who produce more. That means those that are making the food are fewer in number, work continuously to make it, and get paid more for their effort. The other 90% of fast-food workers get unemployed...
 
T. A. Gardner said:
Mass production is more efficient and takes fewer people who produce more. That means those that are making the food are fewer in number, work continuously to make it, and get paid more for their effort. The other 90% of fast-food workers get unemployed...
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Given that I will never eat fast food, and haven't since I was in my 20s, I really don't care much about the industry. As a casual observer of corporations in general, the greed is getting worse every year. Fast food chains have record profits due to increased pricing long before employees were looking for higher pay.

The pay hike is due in large part because the money is there. Rather than drive share price higher so that CEO compensation skyrockets, perhaps spending money on the help is a good idea?

These companies cry poverty in order to stimulate those who post in this thread.


Fast-Food Industry Markups and Profit Margins

Much of the fast-food industry has drastically increased markups during the past decade, helping pave the way for record-level industry profit margins above and beyond other sectors’ growth. While not all firms have followed this strategy, the largest firms have, forcing consumers to pay for their higher profits through unnecessary increases in prices. Between 2014 and 2023, fast-food prices increased by 46.8 percent compared to 28.7 percent for the average of all prices.[SUP]2[/SUP] Evidence of fast-food firms’ recent profiteering makes it clear that the upcoming implementation of a fast-food minimum wage of $20 per hour in California will not necessitate price hikes or employment losses, because profits in the industry are sufficiently high to absorb the greater operating costs.
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In 2023 alone, the 10 largest publicly traded fast-food companies spent $6.1 billion on share repurchases. To put this into perspective, if we estimate the cost of the minimum wage increase for affected employers using the most generous—and unrealistic—assumptions, employers’ wage costs will increase by a maximum of $4.6 billion annually. This figure is notably less than the amount the top companies spent on share repurchases, indicating that most affected employers could cover the expense of the minimum wage increase by merely decreasing their share repurchases. Further, these 10 firms made $20.9 billion in total operating profits in 2023 suggesting considerable room on their income statements to cover wage increases.
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T. A. Gardner said:
Mass production is more efficient and takes fewer people who produce more. That means those that are making the food are fewer in number, work continuously to make it, and get paid more for their effort. The other 90% of fast-food workers get unemployed...
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Fast food is mass production.
 
Althea said:
Given that I will never eat fast food, and haven't since I was in my 20s, I really don't care much about the industry. As a casual observer of corporations in general, the greed is getting worse every year. Fast food chains have record profits due to increased pricing long before employees were looking for higher pay.

The pay hike is due in large part because the money is there. Rather than drive share price higher so that CEO compensation skyrockets, perhaps spending money on the help is a good idea?

These companies cry poverty in order to stimulate those who post in this thread.


Fast-Food Industry Markups and Profit Margins
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In groceries, volume is what generates profit. Kroger, Albertson's - Safeway, you-name-it, make about 1 to 2% profit on any single item they sell, and that holds for overall sales too. But they sell hundreds of millions of individual products a year so they end up making billions on a very slim margin.

Fast food is much the same way. The margin is 5 to 9%, sometimes less, in that market but on much smaller volume with owners of a typical franchise chain making 1 to 2 million a year.

Now, you might, in a socialist, radical Leftist, mindset think that's unfair and unequal, but it is the owner(s) that are taking the risks of failure and reaping the benefits of success. They many well have invested millions into the business to get it were it is and have finally made it a success. That's not mine to judge, but I can't say it's some sort of robber baron capitalist scumbag ripping off their workers and customers.

Socialism as an economic system doesn't work. Statist capitalism is almost as bad. Look at the disaster Maduro brought on Venezuela. He dictated that bakeries would make bread only with flour that was now controlled and rationed by the government. The bakers had to lose money on every sale, but Maduro didn't care because he said they were better off being business owners. If the bakers refused, he put them in prison and installed new management from among trusted cronies that knew nothing about baking. The result was you can't get a fucking loaf of bread in Venezuela.

So, when the 10 largest fast-food companies, employing tens of thousands nationwide, selling millions of individual products to hundreds of thousands of customers manage to make $6 billion dollars, don't act like they're somehow ripping everyone off. All you, and those on the Left are doing is showing your lack of economic knowledge, an ignorance of the Law of Large Numbers, and how these companies ended up at $6 billion a nickel at a time.
 
Nomad said:
Yep.



Already in use in a few places.

I want to see their use increase drastically and soon.

And hopefully bring down the exorbitant price of burgers too.
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They are very expensive machines and the installation is too. Any robot performing a repetitive motion will slowly loosen up its moorings. The end effectors and grippers will also loosen or wear down. They require continual expert maintenance and sanitation. They also can use a lot of power. If a piece breaks. how long would it be down waiting for a new part?
I remember decades ago bars were installing machines to dispense mixed drinks to cut down overpouring and inconsistent drinks. That faded away.
 
T. A. Gardner said:
In groceries, volume is what generates profit. Kroger, Albertson's - Safeway, you-name-it, make about 1 to 2% profit on any single item they sell, and that holds for overall sales too. But they sell hundreds of millions of individual products a year so they end up making billions on a very slim margin.

Fast food is much the same way. The margin is 5 to 9%, sometimes less, in that market but on much smaller volume with owners of a typical franchise chain making 1 to 2 million a year.

Now, you might, in a socialist, radical Leftist, mindset think that's unfair and unequal, but it is the owner(s) that are taking the risks of failure and reaping the benefits of success. They many well have invested millions into the business to get it were it is and have finally made it a success. That's not mine to judge, but I can't say it's some sort of robber baron capitalist scumbag ripping off their workers and customers.

Socialism as an economic system doesn't work. Statist capitalism is almost as bad. Look at the disaster Maduro brought on Venezuela. He dictated that bakeries would make bread only with flour that was now controlled and rationed by the government. The bakers had to lose money on every sale, but Maduro didn't care because he said they were better off being business owners. If the bakers refused, he put them in prison and installed new management from among trusted cronies that knew nothing about baking. The result was you can't get a fucking loaf of bread in Venezuela.

So, when the 10 largest fast-food companies, employing tens of thousands nationwide, selling millions of individual products to hundreds of thousands of customers manage to make $6 billion dollars, don't act like they're somehow ripping everyone off. All you, and those on the Left are doing is showing your lack of economic knowledge, an ignorance of the Law of Large Numbers, and how these companies ended up at $6 billion a nickel at a time.
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Unread. I used to build Burger Kings.

A franchisee would have enough money to build another after 1 year.

Stop trying to cloud the issue.

There is plenty of money to pay part time employees $20/hour.
 
Althea said:
Unread. I used to build Burger Kings.

A franchisee would have enough money to build another after 1 year.

Stop trying to cloud the issue.

There is plenty of money to pay part time employees $20/hour.
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Doesn’t that depend on the market itself? There’s a difference between owning a 24 /7 Burger King in the bar district of Austin, as opposed to owning a Burger King in Henrietta, Texas. That doesn’t even touch on the fact of the cost-of-living differences between Henrietta, Texas, and Los Angeles or New York City.
 
Doc Dutch said:
Doesn’t that depend on the market itself? There’s a difference between owning a 24 /7 Burger King in the bar district of Austin, as opposed to owning a Burger King in Henrietta, Texas. That doesn’t even touch on the fact of the cost-of-living differences between Henrietta, Texas, and Los Angeles or New York City.
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Does Texas have a $20/hr min wage for fast food workers?
 
Nordberg said:
They are very expensive machines and the installation is too. Any robot performing a repetitive motion will slowly loosen up its moorings. The end effectors and grippers will also loosen or wear down. They require continual expert maintenance and sanitation. They also can use a lot of power. If a piece breaks. how long would it be down waiting for a new part?
I remember decades ago bars were installing machines to dispense mixed drinks to cut down overpouring and inconsistent drinks. That faded away.
Click to expand...

Actually, the way it is right now, the restaurants don't own the machines.

They have them installed for about $5,000, then rent them for $3,000 per month.

The company that owns the machines performs maintenance and upkeep.

The only restaurant employee needed is the one who keeps it stocked with ingredients during operating hours then cleans it after closing time.

According to Forbes, these machines cost the restaurant half as much as paying employees.

https://www.forbes.com/sites/johnko...ess-than-half-a-human-worker/?sh=6b380a153b9e

Screenshot-20240417-190348-2.jpg
 
Althea said:
Does Texas have a $20/hr min wage for fast food workers?
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If the extremist proggies have their way and something doesn't change, they probably will eventually.

But only until the fast food restaurants all go out of business as a result of having to pay their employees $20 an hour.
 
Althea said:
Given that I will never eat fast food, and haven't since I was in my 20s, I really don't care much about the industry. As a casual observer of corporations in general, the greed is getting worse every year. Fast food chains have record profits due to increased pricing long before employees were looking for higher pay.

The pay hike is due in large part because the money is there. Rather than drive share price higher so that CEO compensation skyrockets, perhaps spending money on the help is a good idea?

These companies cry poverty in order to stimulate those who post in this thread.


Fast-Food Industry Markups and Profit Margins
Click to expand...

Screenshot-20240417-191321-2.jpg


https://en.wikipedia.org/wiki/Roosevelt_Institute

Kinda like hearing the praises of Donald Trump sung by Fox News hosts. :whome:
 
Nomad said:
So then why are people starting families when they work low wage jobs to begin with?

Why are people's bad decisions now everyone else's problem?

Besides, if a fambly is that poor, they're eligible for all kinds of gub'mint assistance.

SNAP food assistance, free phones and internet, daycare assistance, rent assistance.

Most of these supposed problems get blown out of proportion by people who advocate the "more free shit for everyone" agenda.

People who don't live beyond their means don't have these issues to begin with.
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So let’s see



You expect 20 and 30 year olds don’t fall in love and desire to make a family?



Do you understand the economic chaos that would cause in the future?


Not to mention it’s insane to try and make young people not do what all of mankind’s ancestors were designed to do?


Listen to your self

Scrape it off dude



Have a heart


It plays well with testosterone


The best men that ever walked this earth had great big balls and a heart that outweighed them



Being a full man takes both


There is nothing like those kind of men



I’ve met a few
 
Flash said:
If the minimum wage increased the same percentage as inflation annually it would be about $5.43 today.

1938: 0.25
2024: $5.43

https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=0.25&year1=193801&year2=202401
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How about if it increased with productivity?



https://www.statista.com/statistics...nimum wage,has remained unchanged since 2009.

[FONT=&quot]“In 2021, the minimum wage in the United States would be 22.88 U.S. dollars an hour if it grew with productivity. However, the current federal minimum wage in the United States 7.25 U.S. dollars an hour and has remained unchanged since 2009.”[/FONT]
 
Althea said:
Does Texas have a $20/hr min wage for fast food workers?
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No, and it shouldn’t. I’m fine with cities setting it. If Dallas can’t keep workers, they need to raise pay or taxes to subsidize.

That said, automation is cheaper.
 
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